The best places in Europe to make money from property

To predict European property markets at the moment is to peer into a
particularly foggy crystal ball. The old certainties have become ragged and
frayed. That sure-bet holiday pad on a Spanish Costa is suddenly almost
worthless. The French president, François Hollande, has brought punitive
taxes on holiday home owners. German cities, so long the poor cousins, are
suddenly experiencing rapid price rises. Topsy-turvy is putting it mildly. Here
then are 20 safe havens around Europe. Some are obvious, others less so.

1 London

Close to home, but there’s no escaping that London is still the granddaddy of
all havens. Fears of a major bubble have so far proven unfounded. Even
conservative estimates think prices in the capital will continue to
appreciate over the next few years. There are obvious factors: planning laws
mean it is expensive and difficult to add to the capital’s housing stock.
Not being part of Europe means that wealthy foreigners are still being
driven towards London’s open arms. Not forgetting the jobs, culture and
infrastructure that keep prices high at the margins as well as the centre.

For sale: A quintessential four-bedroom Georgian town house in Shoreditch
(pictured), £2.85m, Hamptons
(020 7236 8398)